Taxes

26 Apr 24

VAT and PAYE Registration

VAT Introduction and Registration Process If you are a person who carries on an enterprise and looking for efficient ways your business can pay less tax and also claim back tax on expenses incurred while carrying on trade, then this might be for you.  The Value Added Tax Act defines…
Read More
26 Apr 24

Travel Allowances and Reimbursements

A travel allowance is “any allowance paid, or advance given to an employee in respect of travelling expenses for business purposes.” The general position is that private travel is taxable and business travel is not taxable.  Fundamentally, the legislative framework makes provision for two scenarios –  A travel allowance given to…
Read More
25 Apr 24

What Is Provisional Tax?

Provisional Tax is not a separate tax from income tax. It is a method of paying the income tax liability in advance, to ensure that the taxpayer does not have a large tax debt on assessment. The tax liability is spread over the relevant year of assessment where it requires…
Read More
19 Mar 24

The Vital Role of Accountants in Business Growth

There exists a silent force largely responsible for driving the wheels of growth and prosperity in businesses that achieve massive success in South Africa — ACCOUNTANTS. These financial experts play a pivotal role in the success of businesses across various sectors, serving as trusted advisors, strategic planners, and guardians of…
Read More